Shopee Malaysia offers personal loans to its users through SLoan digital financing

Malay Mail
Malay Mail

KUALA LUMPUR, March 9 — E-commerce firm Shopee Malaysia is now expanding its services to offer personal loans to its users.

SLoan, offered by SeaMoney Capital Malaysia Sdn Bhd, is a digital financing solution which has been granted a money lending license under the Moneylenders Act 1951 by the Local Government Development Ministry.

Shopee Malaysia in a statement said SLoan gives its users more financial flexibility to meet their needs and complement the way they manage their personal finances in an easy, convenient and secure manner.

“SLoan helps Shopee sellers strengthen their short-term working capital and gives them a greater financial capacity to scale and grow their business.”

According to Shopee’s frequently-asked-questions section, eligible Shopee sellers can obtain up to RM120,000 in loan facility to grow their business with an interest rate of up to 18 per cent per annum.

It also said that Shopee promises easy application and fast loan approval within 24 hours for eligible applicants.

The new service also offers fast and secure repayment features through multi-channel payment platforms.

Users can also opt for flexible loan tenures to fit their needs.

Surf here to learn more about Shopee SLoan.